Revise local plans with better planning: Sandro Chetcuti to construction lobby

The time has come for Malta to revise its local plans, developer Sandro Chetcuti, also chairman of the quango Propjetà Malta, told a KPMG conference on Friday morning.

“We need a holistic plan: we last revised them in 2006, and we need to do so again if we want the development industry to remain a cornerstone of our country’s economy,” he said, referring to the infamous extension of building zones over 15 years ago.

Chetcuti was addressing a KPMG conference on the future of Malta’s property market, where the 2022 Construction Industry and Property Market Report was also launched.

Addressing those present, the former president of the Malta Developers Association said that despite the country’s constraints, it could still attract good quality investors “who not only love the country, but also her people.”

“The property sector is vital for the country and its economy. Anyone who invested in property saw good returns,” Chetcuti said. “We can boast that anyone who invests in property in Malta, has a guarantee of getting profits.”

Chetcuti acknowledged that the good rate of growth in the sector was bound to create controversy. “The solution lies in better planning,” he said. “We need a sustainable and long-term vision. We don’t enjoy it when we send a negative message about ourselves, and we need to realise that without a proper plan, progress will bring about regress.”

He said the country needs to reach an equilibrium. “If the local plans need revision, then so be it. We need to take the needed decisions.”

Chetcuti also mentioned the need for better attention to embellishment and cleaning practices. “These little things make up the big difference.”

Government recognises importance of the sector – Silvio Schembri  

Economy Minister Silvio Schembri also deliver a keynote speech, replacing Prime Minister Robert Abela who could not attend the event.

He spoke of the inspiration of the majority of families in the country is to become property owners. “The government will be here to help them realise that dream.”

Schembri spoke about a number of measures by government related to the property sector including equity sharing measures, the depositors guarantee, and the New Hope Guarantee scheme. 

Comparing the current situation to the one in 2013, he said Malta today has 45,000 more families who are property owners.

He also said that it wouldn’t make sense for government to not be close to “such an important sector.” “And in the future, we need to be even closer.”

Looking ahead, Schembri said the sector will continue to face new challenges. “The sector must crucially evolve and take the opportunities thrown at it.”